Marks, can you provide the verses that speak of David specifically ruling over Israel that now is a physical nation? There are several verses pointing to the seed of David, which is Christ ruling over His people. Below for example. When you speak of David ruling over an ethnic people, called Israel now, are you sure you didn't mean to say the 'SEED", Christ, of David would rule over His spiritual people, Israel of God forever?
John 7:42 (KJV) Hath not the scripture said, That Christ cometh of the seed of David, and out of the town of Bethlehem, where David was?
Romans 1:3 (KJV) Concerning his Son Jesus Christ our Lord, which was made of the seed of David according to the flesh;
2 Timothy 2:8 (KJV) Remember that Jesus Christ of the seed of David was raised from the dead according to my gospel:
Since the Bible points to Christ, the SEED of David ruling over a Kingdom, would you be surprised to learn that Christ is NOW and has been since His ascension to heaven ruling over the spiritual Kingdom He has already received? A Kingdom that shall never be destroyed.
Acts 1:2 (KJV) Until the day in which he was taken up, after that he through the Holy Ghost had given commandments unto the apostles whom he had chosen:
Acts 1:9-11 (KJV) And when he had spoken these things, while they beheld, he was taken up; and a cloud received him out of their sight. And while they looked stedfastly toward heaven as he went up, behold, two men stood by them in white apparel; Which also said, Ye men of Galilee, why stand ye gazing up into heaven? this same Jesus, which is taken up from you into heaven, shall so come in like manner as ye have seen him go into heaven.
Daniel 7:13-14 (KJV) I saw in the night visions, and, behold, one like the Son of man came with the clouds of heaven, and came to the Ancient of days, and they brought him near before him. And there was given him dominion, and glory, and a kingdom, that all people, nations, and languages, should serve him: his dominion is an everlasting dominion, which shall not pass away, and his kingdom that which shall not be destroyed.